Iran Attracts Over $4 Billion in Annual Foreign Investment

Iran’s foreign investment landscape has surged, with the Organisation of Investment, Economic and Technical Assistant of Iran (OIETAI) announcing that the country has surpassed $4 billion in foreign investment annually. Ali Fekri, Iran’s deputy minister of economy and head of OIETAI, revealed that this milestone was achieved each year under President Ebrahim Raisi’s administration, which commenced in August 2021.

Despite challenges, Iran has revitalised its relations with major international and regional organisations, such as the Shanghai Cooperation Organisation (SCO) and the BRICS group, fostering growth in economic ties. The nation’s economic resilience is evidenced by its ongoing upward trajectory in economic relations with numerous countries, even amidst sanctions.

The recent approval of $1.2 billion worth of investment projects by Iran’s Foreign Investment Board reflects the country’s commitment to attracting foreign capital. Notably, the industry sector dominated the approved projects, signalling robust investment prospects in sectors like wood products, mineral extraction, and chemical manufacturing.

Iran’s strategic partnerships with countries like Afghanistan, China, Turkey, India, and the United Arab Emirates have bolstered its foreign investment profile. Provinces such as Fars, South Khorasan, Khorasan Razavi, Hormozgan, and Tehran have emerged as key destinations for approved foreign investment projects.

In April 2023, the Iranian government implemented measures to streamline foreign investment processes, aiming to attract more investors, especially from neighbouring countries. This resolution underscores Iran’s commitment to fostering a conducive environment for foreign investment, signalling promising opportunities for global investors.

This surge in foreign investment highlights Iran’s resilience and attractiveness as an investment destination, highlighting the nation’s potential for sustainable economic growth and development.